54 And Colt RdSpringfield, IL 62561

Property Details for 54 And Colt Rd

Property type

Other commercial real estate

Property subtype

Other land

Description

This exceptional 7,800 square foot lot is strategically located on Illinois Route 54 and Colt Road in Springfield, Illinois, offering unparalleled visibility and accessibility. Currently zoned MDR, Multifamily, commercial, and mixed use, this property presents a unique opportunity for diverse development. The lot boasts 78 feet of frontage on Illinois 54, extending 100 feet deep, providing ample space for various commercial, industrial, or residential projects. Its prime location near a highway exit ensures high traffic volume and exposure. The asking price is $12,999, translating to a land value of $2.50 per square foot. Parking is estimated at 3 spaces per 1,000 square feet. The property is vacant and ready for immediate development. All cash offers will receive a written response within 24 hours. The property is owned by a private individual and is being sold as-is. Consideration will be given to all offers, and owner financing may be possible. The lot is currently zoned residential, but a zoning change to general commercial or industrial use may be feasible given the presence of other commercial properties on the same road. This is a rare opportunity to acquire a high-traffic, highly visible lot in a prime Springfield location. The property's location at the point where a road widening project ended further enhances its strategic value.

Location Insight

City

Springfield

County

Sangamon

State

Illinois

Latitude

39.8443

Longitude

-89.5836

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